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What happens when a company goes out of business?
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What happens when a company goes out of business?
Feb 3, 2009
Under Chapter 7, the company stops all operations and goes completely out of business. A trustee is appointed to "liquidate" (sell) the company’s assets and the money is used to pay off the debt, which may include debts to creditors and investors. The investors who take the least risk are paid first.
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“Be competent, be more skilful than others. Here you will find the answer to all of your questions.”
✋ The purpose of our channel is to create EDUCATIONAL content. That was our intention with this video as well. We would like to give you COMPLETE INFORMATION on the subject, so unfortunately we can also discuss elements that may be hurtful to people.
Feb 3, 2009
Under Chapter 7, the company stops all operations and goes completely out of business. A trustee is appointed to "liquidate" (sell) the company’s assets and the money is used to pay off the debt, which may include debts to creditors and investors. The investors who take the least risk are paid first.
··········
“Be competent, be more skilful than others. Here you will find the answer to all of your questions.”
✋ The purpose of our channel is to create EDUCATIONAL content. That was our intention with this video as well. We would like to give you COMPLETE INFORMATION on the subject, so unfortunately we can also discuss elements that may be hurtful to people.
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